Most entrepreneurs who have seen him go up in smoke the individual companies for the purchase of one or more products, not often, the courage to tell their story because the same cause of their end (derivatives) was signed, unfairly, by themselves.
Sometimes the fact that objectively made a mistake, he has not used more prudently, it creates that state of resignation, while knowing that the deception was there.
It 'good to explain that quieted fears are unjustified.
Leaving aside for a minute explanation of what is really a Products (in the coming days we will understand it better), you should focus on what ordinary citizens are adequately protected by the authorities (Bank of Italy and Consob) responsible for this task.
Well, just for the fact that this type of financial product is extremely coplesso Report, for these and other products with the Reg n.11522/98 Consob has done so unequivocally to protect all investors.
In particular, in Part II (Regulations concerning the provision of investment services and accessories and the service of collective portfolio management) art. Article 26. 30 have mentioned a number of rules to which the financial intermediary to propose follow dave certain types of investments.
Thus, for example, Art. 29 cites "authorized intermediaries shall refrain from or on behalf of investors with inadequate operations by type, location, frequency, or size." and also "authorized intermediaries when they receive an investor provisions relating to a transaction is not appropriate, inform him of that fact and the reasons why it is inappropriate to proceed with his execution."
to these safeguards, there is one exception: the famous art. 31, which exempts the itermediario to adopt the measures referred to previous articles for some categories of workers. These categories are the most thrilling of those persons who for their status can be considered qualified, particularly the 2nd paragraph mentions: "For qualified means authorized brokers, asset management companies, investment companies, pension funds, insurance companies, foreign entities performing under the law in force in their Member State of the activities of the subjects mentioned above, companies and issuers of financial instruments traded on regulated markets, a company registered in the lists referred to in Articles 106, 107 and 113 Legislative Decree of 1 September 1993, No. 385, financial advisors, individuals who can document that they meet professional established by the Consolidated for persons performing administrative, management and control in brokerage companies, banking foundations, and any company or legal person in possession of specific skills and experience relating to transactions in financial instruments expressly declared writing by the legal representative . "
The last lines of this section are those which gave the serenity to banks to unleash their employees to sell the infamous products without any hesitation to anyone!
The process is at the following: Officials bank, without going into too much detail, among the many papers that the signature the victim, gets the signature of a pre-printed by the same Institute, with which the customer claims to be Director of the company and considered QUALIFIED!
With this statement, countersigned by the client, the broker claims to be relieved of any further oblige the clarity of the instrument that is proposing.
MA, unfortunately for them is not 'Exactly so'!
The most recent rulings on derivatives have rightly decreed the following: the signature that the administrator has placed under the self-declaration (prepared by the Institute) is not exhaustive in itself to believe the petitioner a real operator qualified. Clarifying
Further, the mindset that the Consob Regulation follows in the above is related to the possible need for a more exhaustive list of persons who are qualified, so any qualified operator whose activities should not be considered for listing of qualified persons, he can verify its status.
Translated: first you are a qualified operator then declares that status with the self-declaration is not the self-declaration makes you qualified operator.
Most of those who signed the blessed self-declaration were not qualified per se, that is why the banks have sold so many derivatives!
Alas, the bankers, as we move forward with this matter, the more this signature does not seem to be enough to clear you from your objective responsibility!
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